Nuclear energy, in terms of an overall safety record, is better than other energy.
Bill GatesRead
The world needs banking but it does not need banks.
Interpretation
What this quote means
This quote suggests that while the functions of banking are essential for society, the traditional bank institutions may not be necessary.
Bill Gates' quote highlights the distinction between the services that banks provide and the traditional banking institutions themselves. He argues that the financial services are important for the functioning of the economy, but new technologies and innovations may be able to fulfill these roles without relying on the conventional banking structure, implying a need for change in how we consider financial services in the modern world.
Themes
BankingFinancial ServicesInnovationTechnologyEconomy
In practice
Example use cases
This quote can be used in a discussion about the future of finance during a seminar on fintech.
More from Bill Gates
All quotes βThe Internet is becoming the town square for the global village of tomorrow.
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With the states release today of a set of clear and consistent academic standards, our nation is one step closer to supporting effective teaching in every classroom, charting a path to college and careers for all students, and developing the tools to help all children stay motivated and engaged in their own education. The more states that adopt these college and career based standards, the closer we will be to sharing innovation across state borders and becoming more competitive as a country.
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About three million computers get sold every year in China, people don't pay for the software. Someday they will, though. And as long as they're going to steal it, we want them to steal ours. They'll get sort of addicted, and then we'll somehow figure out how to collect sometime in the next decade.
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Internet TV and the move to the digital approach is quite revolutionary. TV has historically has been a broadcast medium with everybody picking from a very finite number of channels.
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These four policy prescriptions - strengthening educational opportunities, revamping immigration rules for highly skilled workers, increasing federal funding for basic scientific research, and providing incentives for private-sector R&D - should in my view be top priorities as Congress and the Administration consider how to maintain the nation's leadership in science, technology, and innovation.
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It is better that a man should tyrannize over his bank balance than over his fellow-citizens.
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